"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." - Robert Kiyosaki
Understanding and mastering the knowledge of finance is a lifelong learning. One of the most common terms in Finance courses is Financial Literacy. What is Financial Literacy? It is the ability to understand financial components such as financial planning, investing and budgeting and to use the skills to make important financial decisions in life.
Women & Money Sense
Often, women have less money sense compared to men because women have less access to financial education and resources compared to men. Hence, financial literacy for women is particularly crucial because we face unique challenges and circumstances that can impact our financial well-being. Some difficulties that we face include wage disparities, career interruptions due to caregiving responsibilities and discrimination which can make financial planning and saving more difficult.
Financial literacy for women can involve learning how to negotiate salaries and benefits, understanding the importance of retirement planning, and knowing how to invest and manage money to build long-term wealth. Financial education can also include understanding financial concepts like credit scores, interest rates and taxes. Not only that, it is also important to raise awareness and help women to recognize and avoid financial scams and frauds. With better financial literacy skills, women can gain more control over their financial lives, make wiser decisions about their money and to help us achieve financial stability and security.